Prestige Estates: Aiming for a Rs 30,000 Crore Real Estate Surge

Prestige Estates Projects Ltd is set to launch Rs 30,000 crore in housing projects this quarter, focusing on major cities like Bengaluru, Delhi-NCR, Chennai, and Mumbai. Despite regulatory hurdles affecting current sales, the company remains confident in achieving Rs 24,000 crore pre-sales for FY25.

Prestige Estates Projects Ltd is gearing up for a significant expansion, planning to launch Rs 30,000 crore in housing projects this quarter. The move is aimed at capitalizing on robust consumer demand across major cities including Bengaluru, Delhi-NCR, Chennai, and Mumbai.

Executive Director Zayd Noaman revealed the company's ambitious plans during a market analysts' discussion, stating that most projects have already been submitted for RERA registration, with launches anticipated within weeks. Despite challenges in sales bookings due to delayed regulatory approvals, the firm is optimistic about surpassing Rs 24,000 crore in pre-sales for the fiscal year 2024-25.

Prestige Estates continues to diversify its portfolio, spanning residential, commercial, retail, hospitality, property management, and warehouse sectors. The company has a presence in more than 13 major Indian cities, having completed 302 projects over 193 million sq ft and is currently developing numerous others.

(With inputs from agencies.)